# PPP loan: ROYAL ELECTRIC CO. INC
> **$685K** approved 04/05/2020 · Paid in Full · Loan `5310417008`
## Borrower
- **Name:** ROYAL ELECTRIC CO. INC
- **Address:** 33 CENTRAL ST, WOODSVILLE, NH, 03785-1006
- **NAICS:** 238210
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $685K
- **Initial approval:** $685K
- **Forgiven:** $689K (101%)
- **Forgiveness date:** 11/03/2020
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $515K
- **Mortgage interest:** $80K
- **Utilities:** $90K
- **Jobs reported:** 58
## Lender
- **Originating:** Wells River Savings Bank
- **Servicing:** Wells River Savings Bank (VT)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*